Global Npk Fertilizer Market 2024

Npk Fertilizer Market Size

The global NPK fertilizer market was estimated at $X in 2023, flattening at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the global market remained at a somewhat lower figure.

Npk Fertilizer Production

In value terms, NPK fertilizer production rose slightly to $X in 2023 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, global production attained the peak level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Npk Fertilizer Exports

Exports

In 2023, overseas shipments of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by X% to X tons, falling for the second consecutive year after three years of growth. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The global exports peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, NPK fertilizer exports declined markedly to $X in 2023. Over the period under review, total exports indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then reduced rapidly in the following year.

Exports by Country

Russia was the major exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in the world, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2023. Norway (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (X%), China (X%) and Morocco (X%). The following exporters - Belarus (X tons), Spain (X tons), the United States (X tons), Vietnam (X tons), Poland (X tons), South Korea (X tons), Germany (X tons) and the Netherlands (X tons) - together made up X% of total exports.

Exports from Russia increased at an average annual rate of X% from 2012 to 2023. At the same time, Morocco (X%), China (X%), the United States (X%), Spain (X%) and Belarus (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. South Korea and Vietnam experienced a relatively flat trend pattern. By contrast, Germany (X%), Belgium (X%), Poland (X%), Norway (X%) and the Netherlands (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Russia, China, Morocco, the United States and Spain increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest NPK fertilizer supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Norway ($X), with an X% share of global exports. It was followed by Belgium, with a X% share.

In Russia, NPK fertilizer exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (X% per year) and Belgium (X% per year).

Export Prices by Country

In 2023, the average NPK fertilizer export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, NPK fertilizer export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then declined rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other global leaders experienced more modest paces of growth.

Npk Fertilizer Imports

Imports

In 2023, overseas purchases of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Global imports peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, NPK fertilizer imports fell remarkably to $X in 2023. Overall, total imports indicated modest growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, global imports attained the peak figure at $X in 2022, and then shrank markedly in the following year.

Imports by Country

In 2023, India (X tons), Brazil (X tons) and China (X tons) represented the key importer of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in the world, mixing up X% of total import. It was followed by Thailand (X tons), generating a X% share of total imports. Spain (X tons), Ukraine (X tons), Togo (X tons), Poland (X tons), France (X tons), the UK (X tons), the Philippines (X tons), Vietnam (X tons) and Denmark (X tons) held a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Togo (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Brazil ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of global imports. Thailand, Ukraine, Spain, Poland, France, Vietnam, the UK, the Philippines, Denmark and Togo lagged somewhat behind, together comprising a further X%.

Togo, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average NPK fertilizer import price stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell markedly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Ukraine ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform